Envestnet Portfolio Solutions Inc. Decreases Stake in Martin Marietta Materials, Inc. (NYSE:MLM)

Envestnet Portfolio Solutions Inc. cut its position in Martin Marietta Materials, Inc. (NYSE:MLM) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,497 shares of the construction company’s stock after selling 378 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Martin Marietta Materials were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Lee Danner & Bass Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $28,000. Whipplewood Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $32,000. Hopwood Financial Services Inc. acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $36,000. EverSource Wealth Advisors LLC raised its stake in Martin Marietta Materials by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 71 shares of the construction company’s stock valued at $37,000 after buying an additional 34 shares in the last quarter. Finally, Bellwether Advisors LLC acquired a new stake in Martin Marietta Materials in the fourth quarter valued at $46,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Martin Marietta Materials Trading Up 2.6%

Shares of MLM stock opened at $552.40 on Tuesday. The business’s 50 day moving average is $536.95 and its two-hundred day moving average is $519.91. Martin Marietta Materials, Inc. has a twelve month low of $441.95 and a twelve month high of $633.23. The company has a market capitalization of $33.30 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 4.88 and a beta of 0.89. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.58.

Martin Marietta Materials (NYSE:MLM) last posted its quarterly earnings results on Wednesday, April 30th. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. Martin Marietta Materials had a return on equity of 12.01% and a net margin of 16.07%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities analysts forecast that Martin Marietta Materials, Inc. will post 19.53 EPS for the current year.

Martin Marietta Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.79 per share. The ex-dividend date is Monday, June 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.57%. Martin Marietta Materials’s payout ratio is 18.20%.

Analyst Ratings Changes

MLM has been the topic of a number of analyst reports. Loop Capital cut their price target on Martin Marietta Materials from $645.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Raymond James Financial cut their price target on Martin Marietta Materials from $600.00 to $597.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus raised their price target on Martin Marietta Materials from $559.00 to $609.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Seaport Res Ptn upgraded Martin Marietta Materials to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Morgan Stanley lifted their target price on Martin Marietta Materials from $561.00 to $576.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $603.86.

Martin Marietta Materials Profile

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. It offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.